Aaron Cowen Suvretta Capital Management
Aaron Cowen is the founder of Suvretta Capital Management, a long/short equity firm with a fundamental research process. The firm invests across sectors with an emphasis on differentiated fundamental views. Cowen’s disclosures are tracked by investors who follow mid-to-large fundamental hedge funds.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
JPMorgan Chase
JPM
|
+$118M |
| 2 |
Marathon Petroleum
MPC
|
+$96.7M |
| 3 |
Home Depot
HD
|
+$76.9M |
| 4 |
State Street SPDR S&P Biotech ETF
XBI
|
+$75.5M |
| 5 |
Walt Disney
DIS
|
+$72.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$294M |
| 2 |
Amazon
AMZN
|
+$232M |
| 3 |
Meta Platforms (Facebook)
META
|
+$159M |
| 4 |
AGN
Allergan plc
AGN
|
+$107M |
| 5 |
Merck
MRK
|
+$105M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 14.52% |
| 2 | Communication Services | 12.63% |
| 3 | Financials | 11.34% |
| 4 | Technology | 11.2% |
| 5 | Consumer Staples | 9.48% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| $738M | 19.1% |
3,300,000
+1,510,000
| +84% | +$330M |
|
2
Charter Communications
CHTR
$17.9B
| $305M | 7.91% |
1,060,651
-47,049
| -4% | -$12.7M |
|
3
Adobe
ADBE
$109B
| $267M | 6.92% |
2,597,300
+348,000
| +15% | +$36.8M |
|
4
Constellation Brands
STZ
$23.2B
| $233M | 6.03% |
1,520,018
+91,500
| +6% | +$14.5M |
|
5
Restaurant Brands International
QSR
$28.2B
| $170M | 4.41% |
3,577,000
+85,600
| +2% | +$3.95M |
|
|
6
JPMorgan Chase
JPM
$935B
| $134M | 3.47% |
+1,553,400
| New | +$118M |
|
|
7
CALL
Walt Disney
DIS
$186B
| $124M | 3.22% |
+1,192,500
| New | +$116M |
|
|
8
Marathon Petroleum
MPC
$101B
| $107M | 2.78% |
+2,130,739
| New | +$96.7M |
|
9
Comcast
CMCSA
$95.3B
| $105M | 2.72% |
3,041,776
+552,776
| +22% | +$18.5M |
|
10
Corpay
CPAY
$27.4B
| $103M | 2.66% |
727,090
+284,176
| +64% | +$44.5M |
|
11
Goldman Sachs
GS
$303B
| $80.6M | 2.09% |
+336,605
| New | +$68.3M |
|
12
Morgan Stanley
MS
$336B
| $80.3M | 2.08% |
+1,900,900
| New | +$71.9M |
|
|
13
Home Depot
HD
$335B
| $80M | 2.07% |
+596,700
| New | +$76.9M |
|
|
14
Walt Disney
DIS
$186B
| $77.4M | 2% |
+742,500
| New | +$72.4M |
|
|
15
State Street SPDR S&P Biotech ETF
XBI
$11.2B
| $72.4M | 1.87% |
+1,222,700
| New | +$75.5M |
|
16
Honeywell
HON
$68.4B
| $72M | 1.86% |
+687,603
| New | +$69.9M |
|
17
Dover
DOV
$27.2B
| $68.4M | 1.77% |
+1,129,304
| New | +$65.3M |
|
18
AutoZone
AZO
$48.3B
| $67M | 1.73% |
+84,800
| New | +$65.3M |
|
19
Mohawk Industries
MHK
$9.23B
| $66.4M | 1.72% |
+332,548
| New | +$65.3M |
|
20
Sherwin-Williams
SHW
$84.1B
| $65.9M | 1.71% |
+735,693
| New | +$65M |
|
21
PPG Industries
PPG
$25.3B
| $50.2M | 1.3% |
529,793
+230,293
| +77% | +$22M |
|
22
UnitedHealth
UNH
$350B
| $48.6M | 1.26% |
+303,700
| New | +$45.4M |
|
|
HDS
23
DELISTED
HD Supply Holdings, Inc.
HDS
| $48.4M | 1.25% |
+1,137,900
| New | +$42M |
|
|
AET
24
DELISTED
Aetna Inc
AET
| $48.3M | 1.25% |
389,100
-299,900
| -44% | -$35.9M |
|
|
AET
25
PUT
DELISTED
Aetna Inc
AET
| $47.7M | 1.24% |
+385,000
| New | +$46.1M |
|
Similar funds
Aaron Cowen's Q4 2016 Portfolio in Review
As of Q4 2016, Aaron Cowen held 66 positions worth $3.86B, up 24% from $3.12B the previous quarter. Its ten largest holdings account for 59% of the portfolio.
Aaron Cowen deployed $648M of net new capital in Q4 2016, opening 35 new positions and adding to 8 existing holdings. Its largest new stake was JPMorgan Chase: 1,553,400 shares worth $134M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 15% of assets, down from 18% a quarter earlier, followed by Communication Services and Financials.
On the sell side, the largest reduction was Aetna Inc, an estimated $35.9M trimmed.
- Aaron Cowen's largest Q4 2016 buy was JPMorgan Chase: 1,553,400 shares worth $134M.
- Aaron Cowen added most to Corpay in Q4 2016, an estimated $44.5M increase.
- Aaron Cowen's biggest Q4 2016 reduction was Aetna Inc, cutting an estimated $35.9M.
- Aaron Cowen fully exited Apple in Q4 2016, selling an estimated $294M.
- Aaron Cowen's ten largest holdings make up 59% of its $3.86B portfolio in Q4 2016.
- Aaron Cowen opened 35 new positions and closed 21 in Q4 2016.
- Aaron Cowen's portfolio value rose 24% quarter-over-quarter to $3.86B.
Based on Suvretta Capital Management's 13F filing for Q4 2016, filed 14 Feb 2017.